The Albanian Deposit Insurance Agency (ADIA) in collaboration with the International Association of Deposit Insurers (IADI) hosted the IADI Europe Regional Committee (ERC) Meeting as well as a Technical Assistance Workshop entitled: Dealing with Contingency Planning, Crisis Management and Failure Resolution, on the 4th and 5th of April 2019 in Tirana.
The Europe Regional Committee is the largest regional committee of IADI composing by the majority of the European deposit insurance authorities. In his opening speech, the General Director of the ADIA, Mr. Genci Mamani, welcomed the participants and highlighted the importance of the ERC meetings as they provide a forum for deposit insurance agencies to share their experiences and knowledge on subjects of mutual interest in the deposit insurance field.
The topics discussed in the ERC meeting, which was organised in a non-EU member country for the first time, included the latest regional and individual jurisdictions’ developments in the deposit insurance field as well as the ERC role and activities in relation to the implementation of the IADI Strategic Goals.
The ERC meeting was greeted by the Governor of the Bank of Albania, Mr. Gent Sejko. In his speech, among other, Governor Sejko emphasized the collaboration between safety net members as a crucial element in efficiently managing the financial and banking systems, as well as in a successful handling of particular situations, which might require the intervention of the financial supervising authorities. In this respect, referring to the collaboration with the Albanian Deposit Insurance Agency, Governor Sejko said that “The Bank of Albania and the Albanian Deposit Insurance Agency’s relationship has constantly evolved through the years to become a strong partnership and cooperation, allowing our institutions to fulfill their respective, but complementary, missions.”
The event hosted by the ADIA, which was attended by 70 participants from 28 jurisdictions, continued with a Technical Assistance Workshop on Contingency Planning, Crisis Management and Failure Resolution. The main focus of the workshop was a deep discussion of two of the IADI Core Principles for Effective Deposit Insurance Systems, namely CP 6 and 14, exploring the processes and policies a deposit insurance system (DIS) needs to design a contingency & crisis management plan using the appropriate tools and resources, to effectively deal with crisis and resolution process. During two days the participants had the possibility, through theoretical and practical sessions, to get acquainted with and discuss presentations and case studies from a wide range of experts from Canada, Croatia, Greece, Italy, Kosovo, the Netherlands, Norway, Poland, Romania, Russia, Turkey, the United Kingdom and the United States, as well as the World Bank’s Financial Sector Advisory Center (FinSAC). The Technical Seminar was greeted also by the Ms. Natasha Ahmetaj, Deputy Governor of the Bank of Albania, who indicated that restoring and enhancing the public trust is one of the Bank’s main functions at present. In this area, the Bank’s cooperation with ADIA is crucial. The Bank of Albania has been drafting the resolution plans for systemic banks, and the ADIA has been actively involved in the drafting process. Without the deposit insurer’s view, the Deputy Governor Ahmetaj stressed, no resolution plan can be considered credible. The keynote speech was delivered by Mr Dominique Laboureix, Member of the Board – Director of Resolution Planning and Decisions, the Single Resolution Board. In his speech Mr. Laboureix focused on the latest development in the European resolution regulatory framework and the approach of SRB towards the challenges it faces.
Taking into considerations the significance of the inter-institutional collaboration in solving problematic financial situations, high-level officials from the Bank of Albania and representatives of the banking system were invited to participate in the technical assistance workshop.